Updated Jan 31, 2025
Pacific National Bank Provides $11 Million Acquisition Loan To Green Street In Williamsburg, Brooklyn
536 Metropolitan Avenue, 546 Metropolitan Avenue, 554 Metropolitan Avenue & 558 562 Metropolitan Avenue
$11,000,000
$37/SF
Building Size
72,864 SF
Asset Type
Development Site
Closing
Nov 20, 2024
About this deal
AI
The development site located at 536 Metropolitan Avenue, 546 Metropolitan Avenue, 554 Metropolitan Avenue, and 558-562 Metropolitan Avenue in Williamsburg, Brooklyn encompasses 97,152 BSF and 72,864 SF. The acquisition loan granted amounts to $11,000,000, facilitated by Pacific National Bank.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Lender: Pacific National Bank
- Loan Officer: Angela Mulder ([email protected])
- Landlord: Green Street
- Broker: Jonathan Bodner
The transaction includes key representatives such as Angela Mulder, who acts as the loan officer for the lender, and broker Jonathan Bodner, who facilitated the loan process. The parties involved are structured around the acquisition of the development site, emphasizing the roles and responsibilities held in this closed transaction.
On the Map
$11,000,000
$37/SF
Development Site
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Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93